Lockheed Martin (NYSE:LMT) Stock Price Up 0.4% - Here's Why

Shares of Lockheed Martin Co. (NYSE:LMT - Get Free Report) traded up 0.4% during trading on Wednesday . The company traded as high as $471.68 and last traded at $469.99. 323,640 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 1,256,755 shares. The stock had previously closed at $468.21.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LMT shares. Truist Financial assumed coverage on Lockheed Martin in a report on Tuesday, January 14th. They set a "buy" rating and a $579.00 price target for the company. JPMorgan Chase & Co. dropped their target price on Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating for the company in a report on Thursday, January 30th. Melius Research downgraded shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Jefferies Financial Group reduced their target price on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a report on Monday, April 28th. Finally, Baird R W raised shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $541.80.

Lockheed Martin Stock Performance

The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The firm has a 50 day moving average of $461.84 and a 200-day moving average of $482.78. The company has a market cap of $110.98 billion, a P/E ratio of 21.28, a PEG ratio of 2.07 and a beta of 0.29.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping analysts' consensus estimates of $6.34 by $0.94. The company had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Insider Buying and Selling

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the sale, the vice president now owns 2,278 shares of the company's stock, valued at $1,008,265.58. The trade was a 23.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the sale, the insider now directly owns 2,000 shares of the company's stock, valued at approximately $884,840. This represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock valued at $3,155,916 over the last quarter. 0.14% of the stock is currently owned by company insiders.

Institutional Trading of Lockheed Martin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LMT. TruNorth Capital Management LLC acquired a new stake in Lockheed Martin during the 1st quarter worth $31,000. Millstone Evans Group LLC acquired a new stake in shares of Lockheed Martin during the fourth quarter worth about $32,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Lockheed Martin during the fourth quarter worth about $34,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin in the 4th quarter valued at about $35,000. Finally, Redwood Park Advisors LLC purchased a new stake in Lockheed Martin during the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

About Lockheed Martin

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.